21. Venosis Sports is a manufacturer of sportswear. It produces all of its products in one department. The information for the current month is as follows:Beginning work in process 22,000 unitsUnits started 44,000 unitsUnits completed 55,000 unitsEnding work in process 10,000 unitsSpoilage 1,000 unitsBeginning work-in-process direct materials $15,000Beginning work-in-process conversion $ 6,000Direct materials added during month $70,800Direct manufacturing labor during month $37,400Beginning work in process was half complete as to conversion. Direct materials are added at the beginning of the process. Factory overhead is applied at a rate equal to 50% of direct manufacturing labor. Ending work in process was 60% complete. All spoilage is normal and is detected at end of the process.Prepare a production cost worksheet if spoilage is recognized and the weighted-average method is used.

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Asked Dec 11, 2019
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21. Venosis Sports is a manufacturer of sportswear. It produces all of its products in one department. The information for the current month is as follows:

Beginning work in process 22,000 units
Units started 44,000 units
Units completed 55,000 units
Ending work in process 10,000 units
Spoilage 1,000 units

Beginning work-in-process direct materials $15,000
Beginning work-in-process conversion $ 6,000
Direct materials added during month $70,800
Direct manufacturing labor during month $37,400

Beginning work in process was half complete as to conversion. Direct materials are added at the beginning of the process. Factory overhead is applied at a rate equal to 50% of direct manufacturing labor. Ending work in process was 60% complete. All spoilage is normal and is detected at end of the process.

Prepare a production cost worksheet if spoilage is recognized and the weighted-average method is used.

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21 Production work sheet Physical Direct materials Conversion Production flow 22 units 23 Work in process, beginning 24 Add: Units started 25 Total units 22,000 44,000 66,000 26 27 Units completed 28 Spoilage 29 Ending work in process 30 Units accounted for 55,000 1,000 10,000 66,000 55,000 1,000 10,000 66,000 55,000 1,000 6,000 62,000 Direct material Conversion $6,000 $37,400 $43,400 62,000 0.70 31 Total 32 Work-in-process beginning 33 Cost added in the period 34 Total cost 35 Equivalent units 36 Equivalent unit cost 37 Allocation of costs: 38 Units completed (55,000x$2.00) 39 Spoilage (1,000×$2.00) 40 Ending work-in-process 41 Materials (10,000x$1.30) 42 Conversion (6,000x$0.70) $21,000 $108,200 $129,200 $15,000 $70,800 $85,800 66,000 2.00 1.30 $110,000 $2,000 $13,000 $4,200 $129,200 43 Cost accounted for

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